Yesterday I became the happy owner of a new 04 WRX sedan (black)..after 2 years of waiting I got the car i wanted...

But paranoia has me worrying of the financing not going through and having the dealership call me on Tuesday saying I have to return the car.. not only that but, having to pay the fee of 50 bucks a day and .50 cents per mile...

Has this happen to any one? if it has how did you deal with it?

Thanks for your help...

rlozano

 

what makes you think it won't go through?

 

it's called a "roll-back" and shady dealers try that with young people that don't have great credit. they let you take the car, show it off to all your friends, and fall in love with it. then, after a couple days, they call you back and tell you there's a problem with financing and will ask for more money down or more per month. IF they try to do that, you need to take a firm stance and tell them to F off and it's their mistake. I don't think they can legally charge you (i know they can't in california) for mileage and usage if financing falls through. Odds are they'll mysteriously find some way to keep you in the car at no extra charge, they really don't want to sell a used car.

generally when it happens, it's not a financing problem at all, but just another way for the dealership to make more money.

 

i didn't know they did that..that's ****ed up.

 

"what makes you think it won't go through?"

Well..before I went to the dealer I armed my self with a pre approved internet loan... the best interest rate I could get with the internet loan was 8.9 % (which is not the greatest but that’s what I got)... now when I got to the dealer they said they could get me a 3.9% interest with no money down for 72 months..and so I took there deal... I also put down 1000 just to get the payments lower...

What makes me think this wont go through is because of the deal I got from them compared to what I could get from the internet loan... usually going through the internet loan gives you better interest rates but this time dealer came through with the better deal. When I asked them how they got me approved with the 3.9% interest, they said because they had sold a bunch of cars that week Subaru (chase financial) would approve me. But i don’t think this sounds right.....

Any ways it all comes down to not trusting these guys... and getting ready for the worst in case this happens…

I pushing to get the rex up to 1000 miles o I can really rev it up… but my paranoia tells me to not push until I make sure this went through.

Tell me what you think?

Thanks, rlozano

 

well, if you already had the other loan approved anyway and they deny the 3.9 offer, just get your loan funded through the internet deal.

maybe check out some local credit unions in your area.

 

Thanks guys.. for the info...I will wait and see what happens... if any one else has gone through this.. please tell me what you did....

Thanks RLozano